global rotary encoder market

Global Rotary Encoder Market is Projected to Reach US$ 2,565 million USD by the end of 2023

Author: QYResearch | Published Date: 2018-08-22| Views: 84

Global Rotary Encoder Market: Market Driver and Restraint

The evolution of absolute encoders has been driven by changing application demands and new communication platforms. Today, advancements in highly precise positioning capabilities and communication network technology saves costs, simplifies systems, and increases flexibility for end users.

Global Rotary Encoder Market: Key Takeaways

In the past, the type of absolute encoders on the market was limited, the resolution was low and the price was high.

The output signal from absolute encoders consisted of parallel wires for each data bit. For the first encoders on the market, resolutions were limited by the technology of the code discs. Therefore, the number of wires in a cable of this system was not an issue.

Require more wires in the cable. Several issues are immediately evident in this scenario, including cable costs, installation time and opportunities for errors during commissioning. In addition, the information from the encoder is limited to positional information. Typically, no diagnostics or configuration capabilities are possible on these encoders. Each of these issues grows exponentially as the need for resolution, positioning accuracy, and ultimately application control increases.

Global Rotary Encoder Market: Forecast by Application

Application segment consists of Elevator Industry, Machine Tool, Motor, Food & Packaging and Others. Elevator Industry was estimated to account for a volume share of over 28.66% in 2018.

North America, Europe, China, Japan, Rest of Asia an Others are the six regions that are included in this report. Europe is the dominant market in the global Rotary Encoder market in terms of value. The Europe Rotary Encoder market was estimated to be valued at US$ 605.63 Mn in 2018 and is expected to expand at a value CAGR of 8.9% over the forecast period.